Trump Admin is a Deregulation Machine Eliminating 221
The administration has cut 22 regulations for every new rule introduced, President Donald Trump announced at the White House Thursday.
Agencies and departments issued 67 deregulatory actions and imposed only three new rules in fiscal year 2017, according to senior administration officials. The number far exceeded Trump's goal through his executive order to cut two old rules for any new regulation proposed.
While making the announcement, Trump stood beside a mountain of paperwork that makes up the Federal Register. A piece of red tape connected a much smaller pile, which represented the regulatory code in 1960.
"Within the first eleven months, we canceled or delayed over 1,500 planned regulatory actions, more than any previous president, by far," Trump said. "And you see the results, when you look at the stock market, the results of companies, and when you see companies coming back into our country."
"Instead of eliminating two old regulations for every one new regulation, we have eliminated 22" he said. "Twenty-two. That's a big difference. We aimed for 2 for 1, and in 2017, we hit 22-1."
A senior official said the administration deregulatory moves were taken in careful and mindful ways and have saved $8.1 billion in lifetime net regulatory costs.